Four Tips To Help Dealers Ease The Pain Of The Trade-In And Increase
Customer Satisfaction

ATLANTA--Nov. 7, 2013: Satisfaction with the car buying process
decreases significantly once consumers make the transition from online
shopping to in-store purchasing, and negotiating the value for the trade-in
is the activity with which they are least satisfied. In fact, only 37
percent of consumers reported being satisfied with that step, according to
research from AutoTrader.com[1]. However, a tool like AutoTrader.com's
Trade-In Marketplace can serve as a bridge between the online and offline
aspects of the car shopping experience, thereby helping dealers increase
customer satisfaction notably.

"Car shoppers have access to more online resources than ever before, and
they are using them to choose their buying and trade-in opportunities
carefully," said Juan Flores, director of operations for AutoTrader.com's
Trade-In Marketplace. "By addressing the most painful part of the
transaction—negotiating the trade-in—dealers can increase
customer satisfaction significantly, and they can also stand out from their
competition. It's a win-win if they implement—and
merchandise—the tool in the right way."

The Trade-In Marketplace, accessible via AutoTrader.com, KBB.com (Kelley
Blue Book), participating dealer websites and in select physical
dealerships, enables consumers to get an instant offer on their used cars,
sight unseen. The offers are based on an extensive set of parameters,
including VIN-specific information, details surrounding the condition of
the car and the impact of the specific vehicle's history and after-market
equipment. The result is that consumers receive an offer on their vehicles
that represents an amount that a dealer would be willing to pay for their
vehicle immediately.

Because it's important to implement online and offline strategies when
using a tool like the Trade-In Marketplace, Flores offered the following
tips for dealers using the Trade-In Marketplace:

Showcase Your Trade-In Process Online: Prominently signal on your
website and other marketing platforms that you have an online appraisal
tool that will enable shoppers to get an instant cash offer on their
vehicle. You can leverage the brand equity of AutoTrader.com and capture
the attention of shoppers online. Reduce the Pressure: Let the customer
know that you are very interested in the vehicle, regardless of whether
he/she wants to trade in the vehicle or simply sell it to the dealer. Let
the Customer Take the Lead: If they haven't generated a Trade-In
Marketplace offer by the time they walk-in, take the customer to the
Trade-In Marketplace kiosk or a workstation and allow them to answer the
vehicle condition questions themselves. Involve the Customer in the Walk
Around: Don't leave the customer sitting alone while you validate the
condition of their vehicle. Invite them to do the walk around with you, and
talk with them about the factors that affect the value of their
vehicle—both the positive and the negative.

"Enabling consumers to be more involved in the trade-in process has
proven to be a winning strategy that helps dealers increase customer
satisfaction and stand out from the crowd," Flores continued. "Enhancing
in-store processes is not always easy, but best-in-class dealers take that
challenge head on and use it to separate themselves from the
competition."

According to a survey of over 12,000 Trade-In Marketplace users, two out
of three of those who redeemed their offers thought the tool was valuable
in helping them negotiate with dealers and improved their interactions at
the dealership. As a result, 77% of those surveyed were willing to
recommend Trade-In Marketplace to others and to use it again in the
future.

The following titles and media identifications are trademarks
owned by The Auto Channel, LLC and have been in continuous use
since 1987: The Auto Channel, Auto Channel and TACH all have
been in continuous use world wide since 1987, in Print, TV,
Radio, Home Video, Newsletters, On-line, and other interactive
media; all rights are reserved and infringement will be acted
upon with force.